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#Cardano Price Analysis

Cardano Price Analysis: ADA/USD struggling to gain traction.

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Cardano price is moving lower against the US Dollar and Bitcoin. ADA/USD may keep on trading lower towards the $0.0600 support region if merchants stay in charge.

Cardano Price Key Features

  • Cardano price exchanged higher as of late above $0.1050 before confronting merchants close $0.1100 against the US Dollar (fastened).
  • There was a break beneath a key bullish pattern line with support at $0.1035 on the hourly diagram of the ADA/USD combine (information feed by means of Bittrex).
  • The pair is probably going to broaden slides towards the $0.1000 and $0.0980 support levels for the time being.

Cardano price is attempting to pick up footing against the US Dollar and Bitcoin. ADA/USD may rectify bring down towards the $0.1000 support zone.

Cardano Price Analysis

In the wake of shutting over the $0.1000 support, Cardano price exchanged further higher against the US Dollar. The ADA/USD match moved over the $0.1050 resistance and even moved above $0.1100 in addition to the 100 hourly basic moving normal. Cardano price exchanged as high as $0.1103 and later began a drawback amendment. Amid the decrease, Cardano price broke the $0.1050 support and the 100 hourly SMA.

In addition, there was a break beneath a key bullish pattern line with support at $0.1035 on the hourly outline of the ADA/USD pair. The combine is presently exchanging underneath the half Fibonacci retracement level of the last wave from the $0.0968 low to $0.1103 high. It appears as though the price has moved into a fleeting bearish zone and it could exchange underneath $0.1030. The following significant support is close to the $0.1000 level. It additionally speaks to the 76.4% Fibonacci retracement level of the last wave from the $0.0968 low to $0.1103 high. Thusly, if the price decays further, the $0.1000 support is probably going to hold misfortunes in the close term.

 

The outline demonstrates that Cardano price is put pleasantly above $0.1000 and $0.0980. There could be misfortunes, however the general structure is certain above $0.0980. On the upside, resistances are seen close to the $0.1060 and $0.1100 levels.

Hourly MACD – The MACD for ADA/USD is somewhat put in the bearish zone.

Hourly RSI – The RSI for ADA/USD is as of now underneath the 50 level.

Significant Support Level – $0.0980

Significant Resistance Level – $0.1100

#Cardano Price Analysis

ADA Daily Trading Signals: 24 October

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Dominant bias for CARDANO (ADA)- Bearish

Resistance Levels- $0.08800, $0.09000, $0.09200

Support Levels- $0.07000, $0.06800. $0.06600

 

ADA is in a bearish trend.  After the loss of the bullish pressure that saw ADAUSD at $0.07939 in the resistance area on 21st October, the bears’ return was gradual. Initially, the cryptocurrency was down to $0.07680 in the support area before closing same day. The increased bearish pressure led ADAUSD to $0.07610 before minor bullish pullback on 22nd October that pushed the cryptocurrency up $0.07771 in the resistance area. Today’s 4-hour opening candle at $0.07616 formed a bearish railroad an indication that the bears are back and price may head south.

 

ADA 4-hour chart

ADA 4-hour chart

 

Price is below the 34 EMA a plus to the bears’ pressure coupled with the relative strength index signal pointing down it implies downward price movement of the cryptocurrency may be inevitable.

The downward trendline serves as a strong resistance. Each touch of price on it result in a breakdown. A breakdown may be expected as the price is around it. $0.07200 in the support area may the initial bears’ target

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#Cardano Price Analysis

ADA Daily Trading Signals: 23 October

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ADA is in a bearish trend.  After the loss of the bullish pressure that saw ADA at $0.07939 in the resistance area on 21st Oct, the bears' return was gradual

Dominant bias for CARDANO (ADA) – Bearish

Resistance Levels- $0.08800, $0.09000, $0.09200

Support Levels- $0.07000, $0.06800. $0.06600

 

ADA is in a bearish trend.  After the loss of the bullish pressure that saw ADAUSD at $0.07939 in the resistance area on 21st October, the bears’ return was gradual. Initially, the cryptocurrency was down to $0.07680 in the support area before closing same day. The increased bearish pressure led ADAUSD to $0.07610 before minor bullish pullback on 22nd October that pushed the cryptocurrency up $0.07771 in the resistance area. Today’s 4-hour opening candle at $0.07616 formed a bearish railroad an indication that the bears are back and price may head south.

 

ADA 4-hour chart

ADA 4-hour chart

 

ADA Price is below the 34 EMA a plus to the bears’ pressure coupled with the relative strength index signal pointing down, it implies downward price movement of the cryptocurrency may be inevitable.

The downward trendline serves as a strong resistance. Each touch of price on it result in a breakdown. A breakdown may be expected as the price is around it. $0.07200 in the support area may the initial bears’ target

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#Cardano Price Analysis

ADA Daily Trading Signals: 19 October

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ADA Price is below the two EMAs with the stochastic oscillator signal pointing down at 43%. This implies further downward movement within the range.

Dominant bias for CARDANO (ADA) – Ranging

Resistance Levels- $0.08800, $0.09000, $0.09200

Support Level-$0.07000, $0.06800. $0.06600

 

ADA is in a range-bound market   The loss in bullish momentum at $0.08091 in the resistance area for the continued upward journey after the retest gradually set the bears back in the market. The doji opening candle of 18th October at $0.08001 followed by the bearish hammer confirmed the bears’ takeover. ADAUSD was initially down to $0.07752. Increased bears pressure pushed the cryptocurrency further down to $0.07537 in the support area as ADAUSD enters the range.

ADA Price is below the two EMAs with the stochastic oscillator signal pointing down at 43%. This implies further downward movement within the range.

 

ADA 4-hour chart

ADA 4-hour chart

 

ADA is in consolidation and trading between $0.08050 in the upper supply area and at $0.07200 in the lower demand area of the range. A breakout at the upper resistance area or breakdown at the lower support area may occur hence patience is required for either to happen. Confirmation with good reversal candles after retest will be of great importance.

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